Seabridge Gold (NYSE:SA) Shares Gap Up – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $29.30, but opened at $30.34. Seabridge Gold shares last traded at $29.4340, with a volume of 48,960 shares traded.

Wall Street Analysts Forecast Growth

SA has been the topic of a number of recent analyst reports. Wall Street Zen raised Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Zacks Research upgraded shares of Seabridge Gold to a “hold” rating in a research note on Tuesday, September 1st. Finally, B. Riley Financial began coverage on shares of Seabridge Gold in a research report on Monday, August 3rd. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Seabridge Gold currently has an average rating of “Hold” and an average target price of $40.00.

Seabridge Gold Trading Up 0.9%

The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.19 billion and a P/E ratio of -61.02. The firm’s 50-day moving average price is $29.40 and its 200 day moving average price is $29.90.

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently made changes to their positions in SA. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the fourth quarter worth $30,000. Banque Cantonale Vaudoise bought a new position in Seabridge Gold in the 4th quarter valued at $39,000. Allworth Financial LP purchased a new stake in shares of Seabridge Gold during the 2nd quarter valued at $39,000. Quantbot Technologies LP bought a new stake in shares of Seabridge Gold during the 2nd quarter worth $43,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Seabridge Gold during the 2nd quarter worth $79,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge’s principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada’s Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.